The case involves an application filed by M/s Soham Polymers Private Limited, the operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against M/s Flocksur India Pvt. Ltd., the corporate debtor. The operational creditor claimed that the corporate debtor failed to pay an outstanding amount of Rs. 39,45,231/- for goods and materials supplied, along with interest of Rs. 7,08,630/-, totaling Rs. 46,53,861/-. The corporate debtor, however, contended that there was a pre-existing dispute regarding the quality of the goods supplied, which was communicated to the operational creditor via email on 20.05.2019, prior to the issuance of the demand notice.
M/s Soham Polymers Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Flocksur India Pvt. Ltd. (Corporate Debtor) for an outstanding payment of Rs. 39,45,231/- plus interest of Rs. 7,08,630/-, totaling Rs. 46,53,861/- for goods/materials supplied. The Operational Creditor claimed to have repeatedly demanded the payment since August 2018, and issued a demand notice dated 05.08.2019. The Corporate Debtor, however, contended that a pre-existing dispute existed, as they had informed the Operational Creditor via email on 20.05.2019 about the substandard quality of the supplied goods and the losses incurred due to their use. The Corporate Debtor also stated that they had issued a demand notice
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The operational creditor repeatedly demanded…
The corporate debtor, for the first time,…
The case involves an application filed by M/s Soham Polymers Private Limited, the operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against M/s Flocksur India Pvt. Ltd., the corporate debtor. The operational creditor claimed that the corporate debtor failed to pay an outstanding amount of Rs. 39,45,231/- for goods and materials supplied, along with interest of Rs. 7,08,630/-, totaling Rs. 46,53,861/-. The corporate debtor, however, contended that there was a pre-existing dispute regarding the quality of the goods supplied, which was communicated to the operational creditor via email on 20.05.2019, prior to the issuance of the demand notice.
M/s Soham Polymers Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Flocksur India Pvt. Ltd. (Corporate Debtor) for an outstanding payment of Rs. 39,45,231/- plus interest of Rs. 7,08,630/-, totaling Rs. 46,53,861/- for goods/materials supplied. The Operational Creditor claimed to have repeatedly demanded the payment since August 2018, and issued a demand notice dated 05.08.2019. The Corporate Debtor, however, contended that a pre-existing dispute existed, as they had informed the Operational Creditor via email on 20.05.2019 about the substandard quality of the supplied goods and the losses incurred due to their use. The Corporate Debtor also stated that they had issued a demand notice
…The operational creditor repeatedly demanded…
The corporate debtor, for the first time,…